Pioneer Looking To Sell Up To 49 Percent Stake; Portal Revamp
CMYK Printech, which publishes English newspaper The Pioneer, is looking to raise funds by selling up to 49 percent stake, reports the Mint. The company, promoted by veteran journalist and Rajya Sabha member Chandan Mitra, had been in talks with Jagran Prakashan for a stake sale, but apparently talks fell through. The promoter group, comprising of Mitra, Durbar Ganguly and Amit Goel, holds 74 percent stake in the company. The Pioneer has eight editions, and intends to publish 12 more editions; they’re also looking to expand their portal – Dailypioneer.com, a revamped version of which will be launched in April.
I have read this Pioneer newspaper but don’t why i didn’t liked that writing style and really doubt this newspaper will make any big in newspaper industry where already big gunz like Times of India, Hindustan times etc are present .
and i guess Fund raising for Pioneer will be little difficult.
okie, thats great…cheers bhanu
Great News